PPL Corp - FORM 10-Q - EX-12.A - EXHIBIT 12.A - May 4, 2017

Attached files

file filename
EX-31.C - EXHIBIT 31.C - PPL Corpppl-3312017_ex31c.htm
10-Q - PPL CORPORATION FORM 10-Q - PPL Corpppl-3312017x10q.htm
EX-32.E - EXHIBIT 32.E - PPL Corpppl-3312017_ex32e.htm
EX-32.D - EXHIBIT 32.D - PPL Corpppl-3312017_ex32d.htm
EX-32.C - EXHIBIT 32.C - PPL Corpppl-3312017_ex32c.htm
EX-32.B - EXHIBIT 32.B - PPL Corpppl-3312017_ex32b.htm
EX-32.A - EXHIBIT 32.A - PPL Corpppl-3312017_ex32a.htm
EX-31.J - EXHIBIT 31.J - PPL Corpppl-3312017_ex31j.htm
EX-31.I - EXHIBIT 31.I - PPL Corpppl-3312017_ex31i.htm
EX-31.H - EXHIBIT 31.H - PPL Corpppl-3312017_ex31h.htm
EX-31.G - EXHIBIT 31.G - PPL Corpppl-3312017_ex31g.htm
EX-31.F - EXHIBIT 31.F - PPL Corpppl-3312017_ex31f.htm
EX-31.E - EXHIBIT 31.E - PPL Corpppl-3312017_ex31e.htm
EX-31.D - EXHIBIT 31.D - PPL Corpppl-3312017_ex31d.htm
EX-31.B - EXHIBIT 31.B - PPL Corpppl-3312017_ex31b.htm
EX-31.A - EXHIBIT 31.A - PPL Corpppl-3312017_ex31a.htm
EX-12.E - EXHIBIT 12.E - PPL Corpppl-3312017_ex12e.htm
EX-12.D - EXHIBIT 12.D - PPL Corpppl-3312017_ex12d.htm
EX-12.C - EXHIBIT 12.C - PPL Corpppl-3312017_ex12c.htm
EX-12.B - EXHIBIT 12.B - PPL Corpppl-3312017_ex12b.htm
EX-10.A - EXHIBIT 10.A - PPL Corpppl-3312017_ex10a.htm


Exhibit 12(a)

PPL CORPORATION AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND
PREFERRED STOCK DIVIDENDS
(Millions of Dollars)
 
Three Months Ended March 31,
 
Years Ended December 31,
 
2017
 
2016
 
2015 (a)
 
2014 (a)
 
2013 (a)
 
2012 (a)
Earnings, as defined:
 
 
 
 
 
 
 
 
 
 
 
Income from Continuing Operations Before Income Taxes
$
532

 
$
2,550

 
$
2,068

 
$
2,129

 
$
1,728

 
$
1,406

Adjustment to reflect earnings from equity method investments on a cash basis (b)
1

 
(1
)
 
(1
)
 
—

 
—

 
34

 
533

 
2,549

 
2,067

 
2,129

 
1,728

 
1,440

 
 
 
 
 
 
 
 
 
 
 
 
Total fixed charges as below
222

 
917

 
1,054

 
1,095

 
1,096

 
1,065

Less:
 
 
 
 
 
 
 
 
 
 
 
Capitalized interest
1

 
4

 
11

 
11

 
11

 
6

Preferred security distributions of subsidiaries
on a pre-tax basis
—

 
—

 
—

 
—

 
—

 
5

Interest expense and fixed charges related to discontinued operations
—

 
—

 
150

 
186

 
235

 
235

Total fixed charges included in Income from Continuing Operations Before Income Taxes
221

 
913

 
893

 
898

 
850

 
819

 
 
 
 
 
 
 
 
 
 
 
 
Total earnings
$
754

 
$
3,462

 
$
2,960

 
$
3,027

 
$
2,578

 
$
2,259

 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges, as defined:
 
 
 
 
 
 
 
 
 
 
 
Interest charges (c)
$
219

 
$
900

 
$
1,038

 
$
1,073

 
$
1,058

 
$
1,019

Estimated interest component of operating rentals
3

 
17

 
16

 
22

 
38

 
41

Preferred security distributions of subsidiaries on a pre-tax basis
—

 
—

 
—

 
—

 
—

 
5

 
 
 
 
 
 
 
 
 
 
 
 
Total fixed charges (d)
$
222

 
$
917

 
$
1,054

 
$
1,095

 
$
1,096

 
$
1,065

 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
3.4

 
3.8

 
2.8

 
2.8

 
2.4

 
2.1

Ratio of earnings to combined fixed charges and preferred stock dividends (e)
3.4

 
3.8

 
2.8

 
2.8

 
2.4

 
2.1

(a)
 
Reflects PPL's former Supply segment as Discontinued Operations.
(b)
 
Includes other-than-temporary impairment loss of $25 million in 2012.
(c)
 
Includes interest on long-term and short-term debt, as well as amortization of debt discount, expense and premium - net.
(d)
 
Interest on unrecognized tax benefits is not included in fixed charges.
(e)
 
PPL, the parent holding company, does not have any preferred stock outstanding; therefore, the ratio of earnings to combined fixed charges and preferred stock dividends is the same as the ratio of earnings to fixed charges.


PPL Corp Reports